04/08/2025 | Press release | Distributed by Public on 04/08/2025 14:52
FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) |
4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Cash Exercise Stakeholder Warrants (Right to Buy)(1) | $1.95 | 04/03/2025 | A | 3,085,748(2) | (3) | 04/02/2029 | Common Stock | 5,014,340 | $ 0 | 3,085,748 | D | ||||
Cash Exercise Stakeholder Warrants (Right to Buy)(1) | $1.95 | 04/03/2025 | G | 210,498(4) | (3) | 04/02/2029 | Common Stock | 342,059 | $ 0 | 2,875,250 | D | ||||
Net Settle Stakeholder Warrants (Right to Buy)(1) | $1.95 | 04/03/2025 | A | 3,085,748(2) | (3) | 04/30/2032 | Common Stock | 5,014,340 | $ 0 | 3,085,748 | D | ||||
Net Settle Stakeholder Warrants (Right to Buy)(1) | $1.95 | 04/03/2025 | G | 210,498(4) | (3) | 04/30/2032 | Common Stock | 342,059 | $ 0 | 2,875,250 | D | ||||
Net Settle Stakeholder Warrants (Right to Buy)(1) | $1.95 | 04/03/2025 | G | 210,498(4) | (3) | 04/30/2032 | Common Stock | 342,059 | $ 0 | 210,498 | I(4) | William B. Shepro Revocable Trust | |||
Net Settle Stakeholder Warrants (Right to Buy)(1) | $1.95 | 04/03/2025 | A | 940,969(2) | (3) | 04/30/2032 | Common Stock | 1,529,074 | $ 0 | 1,151,467 | I | William B. Shepro Revocable Trust | |||
Cash Exercise Stakeholder Warrants (Right to Buy)(1) | $1.95 | 04/03/2025 | A | 940,969(2) | (3) | 04/02/2029 | Common Stock | 1,529,074 | $ 0 | 940,969 | I | William B. Shepro Revocable Trust | |||
Cash Exercise Stakeholder Warrants (Right to Buy)(1) | $1.95 | 04/03/2025 | G | 210,498(4) | (3) | 04/02/2029 | Common Stock | 342,059 | $ 0 | 1,151,467 | I(4) | William B. Shepro Revocable Trust |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Shepro William B C/O ALTISOURCE PORTFOLIO SOLUTIONS S.A. 33, BOULEVARD PRINCE HENRI LUXEMBOURG, N4 L-1724 |
X | Chairman and CEO |
/s/ Teresa L. Szupello, Attorney-in-Fact | 04/08/2025 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | The reporting person has amended this Form 4 to (i) include missing footnotes or delete footnotes and (ii) adjust certain dates and numbers. |
(2) | The reporting person received the Cash Exercise Stakeholder Warrants ("Cash Exercise Warrants") and the Net Settle Stakeholder Warrants ("Net Settle Warrants," and collectively with the Cash Exercise Warrants, the "Warrants") as part of a distribution by the Issuer of transferable warrants to certain securityholders of the Issuer for no consideration. |
(3) | The initial exercise date of the Warrants is the later of (i) July 2, 2025 and (ii) first date on which the VWAP (as defined in the Warrant Agent Agreement, a copy of which was filed as Exhibit 4.1 to the Issuer's Current Report on Form 8-K filed with the SEC on April 2, 2025 (the "Warrant Agreement")) of the common stock equals or exceeds the Implied Per Share Exercise Price (as defined in the Warrant Agreement) of the Warrants (initially, $1.20). |
(4) | Represents a transfer by gift from Mr. Shepro's direct ownership to the William B. Shepro Revocable Trust of Warrants. |